A recent study from Retirement Villages has revealed that 55 per cent of over-55s said they would consider renting a home.
Furthermore, 48 per cent revealed that they would even rent with a friend.
‘The demands of later-lifers are changing,’ says co-founder Johnny Sandelson. ‘They are looking for freedom and flexibility without compromising on quality.’
There are now a growing number of retirement developers that have adapted their living options to also include a rental option. PegasusLife even offers a rent-to-buy scheme allowing potential buyers to ‘road-test’ a home before they purchase.
‘There’s a growing trend of savvy retirees renting. In doing so, it frees up more money to spend enjoying their retirement,’ says the housebuilder’s chief commercial officer Ali Powell.
PegasusLife has standalone rentals and homes for sale at eight schemes and has teamed up with rentals specialists Girlings to market its ‘premium’ Diamond Collection.
Other developers are building to rent. Brio Retirement is currently marketing apartments to rent to the over-65s in Hackbridge, South-West London. The village, which opens in the summer, will have a fitness suite, club lounge, bar and brasserie.